17.02.2015 - How Will the Global Oil Price Slump Impact the US Economy?
With the unexpected shock of the global crude oil price collapse enveloping the second half of 2014, with few signs of letup, its effect on the 2015 U.S. economy is starting to take a long-term downside position. Although most media economic analysts dwell on the benefits to America's predominant consumer sector, a rational analysis of the pluses and minuses of this dramatic price reversal paint a mixed picture. In order to make a fair and balanced assessment of the sudden drop of both worldwide Brent crude, and U.S.-based West Texas Intermediate, starting in mid-year 2014, there's little question that the American consumer, as well as many businesses focusing on that sector, come out as clear winners. This is true not only of the unprecedented price drop "at the pump," but in the many-faceted consumer expenditures for heating and air conditioning, in addition to the other myriad consumer users impacted by this price plunge...............................................Full Article: Source
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